Claims

 

 

ASX Code: UGL
ISIN: AU000000UGL5
Claim Period: 8 August 2013 to 5 November 2014
Shares traded in Period (m): 62.36
Price change on disclosure: -$1.44
Market Cap Drop ($m): -$239.78
Registry

Victoria Registry, Federal Court of Australia (VID1390/2017).

File Title

Clime Capital Limited v UGL Pty Limited.

Date of Filing

18 December 2017.

Presiding Judge

Justice Murphy.

Solicitors for Applicant

Phi Finney Mcdonald.

Solicitors for Respondent

Herbert Smith Freehills.

Funder

IMF Bentham.

Cause of Action

The claim alleges that between 8 August 2014 and 5 November 2014 UGL breached its obligations of continuous disclosure, in contravention of the Corporations Act 2001 (Cth), by failing to disclose that UGL’s ‘Ichthys power project’ was running behind schedule and was subject to increased project costs.

Class Members

All persons who acquired ordinary shares in UGL on or after 8 August 2013 and who were, at the commencement of trading on 5 November 2014, holders of any of those shares.

Status

Case management hearing on 21 September 2018.

Judgment

Strike Out (7 October 2015).